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20121008
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CNBC 48
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English 48
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CNBC
Oct 2, 2012 2:00pm EDT
of just one all-american city. tell you where, coming up. >>> plus what does shelia bare think of the big lawsuit against jp morguen? she is here to let us know. >>> we want to know, who has a better chance of winning this year is it a, mitt romney, or b, the new york jets? vote now on our show page, street signs.cnbc.com. the results, mandy, later in this cablecast. >> indeed. in fact, watching the trading day starting off in rally mode but that buying spree was short circuited about spain's fiscal situation. the dow lost a 52-point gain and on track for the sixth loss in eight session. the numbers more bearish for the s & p 500, down for the ninth time in 12 sessions and losing about 1.6% over that time. the nasdaq near break even, trying to avoid a six of seven losing streak t is down about 2% in that period. brian? >>> the u.s. is addicted to budgetary crystal meth, those words from a man we are now calling "breaking bad" bill gross there he is. his new picture. he outlined america's severe spending addiction in his latest investment outlook and he has got some eye-popping stats on ho
CNBC
Oct 1, 2012 12:00pm EDT
halftime live at the value investing congress in new york city. >>> good afternoon. welcome to a special addition of halftime. we're live at the value investing con dwres in the heart of new york city where the biggest and best known managers are presenting their top investment ideas. we'll be speaking live with the house and that's moments after he reveals thinks tom picks and the fed chairman is speaking today before the economic club of indiana and you will see the question and answer session live later on in the hour. first, let's turn our focus on the market and stocks higher to start the fourth quarter and after a better than expected manufacturing report where does the rally go from here? we're getting your fourth quarter play back from pete and steve here with me and stephanie link and steve grasso and i will start with you. given what happened last week in the market, did you guys come in today a little skeptical about this move in the market and then we got the ism report and that changed your way of thinking? >> i think you always come in skeptical because you wonder how much
CNBC
Oct 2, 2012 9:00am EDT
. >> sorry. >> go ahead. >> that was pointed out by the citi note that underwriters are much tighter these days. so the risk is we have all the starts and the home builders are doing well but they will reach the point where the buyers can't get the credit they need and demand is gone. >> that's why when the toll brothers made it, they were in the process. it is one of those things, why aren't more people using the money and bernanke -- go buy a house, chairman. chairman bernanke, go buy an apartment for rental. what you'll see is unless you pay in cash or cut out the banks entirely and that hurts the rate of return, unless you're paying crash you'll tie yourself up for a really long time. evil gains are feeding into things. i do need to modulate here in the risk of the parts of corporations and the banks doing a 180. this is trauma from the financial corporation, which is okay. you want them to have some memory of it. >> i'm not a libertarian, okay? i believe in the law. i am not someone who says, we have to slash the regulations. i'm just saying, you know, the impotence is to not --
CNBC
Oct 5, 2012 1:00pm EDT
. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] [ male announcer ] get more access with the citi card. syou know, i've helped a lot off people save a lot of money. but today...( sfx: loud noise of large metal object hitting the ground) things have been a little strange. (sfx: sound of piano smashing) roadrunner: meep meep. meep meep? (sfx: loud thud sound) what a strange place. geico®. fifteen minutes could save you fifteen percent or more on car insurance. >>> time for the countdown today. we're talking jobs and the election. mark moriel, the former mayor of new orleans, jobless rate the lowest since the president took office. mark, we're putting out whether this furthers his ch
CNBC
Oct 1, 2012 9:00am EDT
't seem to matter. >> melissa mentions the citi call, the mcdonald's call, the marriott call. these analysts are -- it's not that they're down on the stock all of a sudden. it's that they're reweighing the risk/reward, we keep seeing that, the balance of risk/reward. >> it's what we started with. they can't come out and say, stick with marriott or stick with microsoft because the fed is easing. they have to deal with what i used to call because i was an art history guy in college, the four walls of the canvas. and they can't go outside of it. they're more rembrandt than they are cessa. >> i'm making i'm sure in the right century. >> good. >> they're not polak necessarily. >> they're saying, what the heck is going on with the earnings? this must have been what it was like to be a realist painter at the time. >> what are you guys doing? >> yeah. like, that's not a painting. and now it's going for $150 million. >> the realist guys are worth like $5 million. that's what the analysts are like. they're realists in a time when the impressionist fires have taken over. it's a spots an
CNBC
Oct 2, 2012 5:00pm EDT
concept. it is one in the low 20s. >> pop here for citi group. >> i would stay away from it. i would go with high concentration of cit versus staying with the big bracket names. >> pop for coach. >> high end stores have popped on positive news. really benefitting from that. >> drop for radio shack down 13%. >> we ought to give dan a little bit of credit. we were talking about this name. he said stay away from it. but the story here remains dismal. the ceo left the company. and credit squeeze confirmed the under perform rating. this is a broken stock and broken story. >> and a pop for coconuts. a man recently smashed a record that would make any frat boy proud. the hard headed 40 year old busted open 18 coconuts gaining a place in the book of world records. back in 2011 he cracked 85 coconuts with his elbow in one minute. how do you practice that? >> amazing. >> it's a talent. >> everyone has one. >> confused about which companies to by. stephanie has the link you might be missing. stick around for that and we will dive deeper into the retail story with some of the biggest retailers out
CNBC
Oct 2, 2012 7:00pm EDT
lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] you.piano ]nnouncer ] get more access with the citi card. we know you. we know you're not always on top of it. and how could you be? that often you just want... quiet. we know all that life demands from you. and how it's almost impossible for you to escape. almost.
CNBC
Oct 4, 2012 2:00pm EDT
for personal gain. >> today's arrest in seven cities with the operation hit all nine of a federal task force so-called strike force cities, this crackdown, some funded by the affordable care act, is having some results. more than $4 billion recovered last year alone, officials say. which sounds great until you consider that the total fraud each year could be upwards of $80 billion and maybe even twice that. >> in other words, this is really just the tip of the iceberg. the annoying thing about this health care fraud is, it pushes up health care costs for all of us. right? >> that's right. that's why they are trying to crackdown on this. as we've reported on again and again this year, this fee-for-service situation that people can find ways to gain. so they're constantly doing this pay and chase type of thing. they're getting a lot better at analyzing data. that's what this represents. >> what's sad and amazing in this political season. the amount you money you talked about is exponentially more than the amount of revenue that would come to the government if they passed this so-called buffett ru
CNBC
Oct 3, 2012 4:00pm EDT
] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] [ male announcer ] get more access with the citi card. why they're always there to talk. i love you, james. don't you love me? i'm a robot. i know. i know you're a robot! but there's more in you than just circuits and wires! uhhh. (cries) a machine can't give you what a person can. that's why ally has knowledgeable people there for you, night and day. ally bank. your money needs an ally. >>> welcome back. countdown mode is on. we are just over a month away from the presidential election. it's a big one. mitt romney and president obama are set to square off tonight in denver for the first of three presidential debates. you can catch it all right here li
CNBC
Oct 2, 2012 1:00pm EDT
confidence that losses are contained. shares of bank of america and citi barely bunnelled on news of their recent settlements. five banks, tyler, including jpmorgan chase are chipping away at a $25 billion settlement reached in june with feds over foreclosures. for that reason, citi mortgage's ceo told diana olick today that he doesn't think it would hit the balance sheet. what investors fear most is the legacy mortgage cases will paige in comparison to bigger legal obstacles facing banks in the coming months, namely l ll lly iran. where sanctions are concerned, several settlements, including standard are coming down the pike. jp morgue continueself is also nearing settlement over faulty safeguards in place to deem with these sanctions. issues this could hurt the stocks. for now, tyler, investors believe until they see a number, they are not buying it, not selling. >> when you refer to sanctions in that context, you are talking about the iran sanctions? >> the iran sanctions, some dealing with libya, some myanmar, a lot of banks fingered over this no real numbers and's what invest
CNBC
Oct 4, 2012 11:00pm EDT
that big lake city contract that is behind them. they think that atk can outperform by 20% over the next three to six months without much in the way of down side risk because the stock is so cheap. they believe that worries about the lake city contract were keeping the stock down. that's a big part of the business. the deal can be worth $2 billion over the next ten years. if they lost the contract, it wouldn't have been a huge hit to atk's earnings. the company doesn't have any other major contracts expiring in the near future where it has to compete for business. investors have much less to worry about. confidence, now the big risk, it's off the table. we can now focus on atk's monster buy back, 175 million repurchase authorization. plus, if obama gets re-elected, they expect the civilian side to get a major boost as regular people, yes, stockpile ammo. not making it up. talk to cabela's. what happens if the election in 2008, on the other hand if, romney wins, he wants to increase spending. given all the factors, i can see why cowen believes that atk can outperform by 20%. you make a pr
CNBC
Oct 3, 2012 9:00am EDT
but it will be a tough decision for the board. >> yeah, 23 looks pretty good when your stock is at 13. >> circuit city, wow -- >> so many examples. >> right? >>> let's move on to apple. mass production of a new tablet computer smaller than the current ipad, sources telling dow jones will have a 7.5 inch liquid display. the current ipad, by the way, measures at 9.7 inches. it's a measurement that has not changed since the original ipad. there have been some new rumors about this thing. >> right. >> invitations will be sent out october 10th so it can hit the store shelves. fact of the matter is that competitors with the smaller tablets have been out on the market. when apple comes in, does it not matter what others exist? >> if approximawe can get off t gate, anything to not focus on google maps and the charts are holding up apple. you get the conversation away from google maps, the tstock ma actually have lift. you have to get it away from that. because right now people are saying, let me get into that samsung line. it's the greatest -- >> and then a difficult story to read, nokia apparently considerin
CNBC
Oct 1, 2012 3:00pm EDT
up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] >>> welcome back. the dow industrials rallying today up about 70 points even though it is off of the best levels of the afternoon. the nasdaq really struggling. bertha is at the nasdaq with the details. >> the nasdaq was up as much as 30 points earlier in the day. as you mentioned before the break, it's really the weakness in apple, also greater weakness in microsoft. microsoft today getting cut over at rbc. they basically see the windows 8 upgrade price priced into the microsoft price. google, oracle, with the oracle world today, the real strength. take a look at google. google has really been coming on here. google today set to close at an all-time high after se
CNBC
Oct 3, 2012 6:00am EDT
'll find heading into thursday. kansas city, 63 for your day, ten degrees below average, and that cool air continues to work south and east. chicago, you're not even getting out of the 50s. 53 around st. louis. that's nearly 23 degrees below our average. >> thank you very much. >>> when we come back, we have mike jackson, he says he has good news on the state of the u.s. economy. >>> but first as we head to a break, take a look at yesterday's winners and losers. ♪ >>> tomorrow on "squawk box," we're counting down the employment report. our guest host already arianna huffington. we'll talk to the twitter creator and howard schultz. you can't afford to miss "squawk box" starting tomorrow at 6:00 a.m. eastern. a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. which can withstand over three and a half tons. those surprising little still make you take notice. there are a million reasons why. but your erectile dysfunction that could be a question of blood flow. cialis for daily use helps you be ready
CNBC
Oct 3, 2012 5:00pm EDT
for lennar. >> kudos to citi for getting this one right. >> drop for metro pcs. >> you get a takeover and you are supposed to sell. people held on and the premium was disappointing. this stuff happens. that is what you are seeing today. >> here is one, luxfer holdings. >> ipo priced at the low end of the range. sells extruding products. got into this thing and lucky to get the 10% move on. >> i sold it today on the pop because i had money in it. they came out and raised guidance and said fuel costs are that big an issue. with oil going down adding lift to the airline sector. maybe stay a little longer. >> pop for netflix up 10%. >> noted in a customer survey that satisfaction is rising. overall up 3%. satisfaction with content is about double. they really need to hit their forecast for the 7 million new subscribers to justify the multiple. >> a pop for sore losers. ever hear someone say they would leave the country if their candidate loses. jet blue asks customers to vote for who they want to win. after the election the airline will select 1,000 losers and give them free round trip tickets ou
CNBC
Oct 4, 2012 6:00am EDT
. today warm numbers. mid-70s oklahoma city, twl dall upper 80s, but the cooler air working its way towards the south. going from the 80s to the 50s in the big d. back to you. >> alex, thank you. >> we have the twitter guy on today, don't we? >> yes rk, we do. >> because i'm slow and people know that. but i was watching last knignig and checking blogs and stuff to see the immediate take. sglifs watchi sgli >> i was watching the twitter feed. >> that didn't occur to me. that's how lame i am. and i saw your husband mentioned me, that i'm probably -- >> you weren't watching twitter? >> no, and i said, oh, wait a minute, why don't i check -- >> hello! >> yes, it works. i could tell immediately. >> they were doing this thing where you could twist and they were having independent voters who would twist something. that is nothing compared to the twitter feed. >> this is a new world. it's amazing. >> the quickest feedback you can ever get p. >> clint eastwood's empty chair suddenly looked more prepared? no that's really not -- anyway, what's coming up? >> when we return, joe, we have an adv
CNBC
Oct 3, 2012 4:00am EDT
, steven engler, global head of a g-10 fx strategy at citi. thanks for joining us again. want to come to some of your u.s. dollar calls. you've been making the point that on the economic data in the u.s. dollar moves have been consistently moving hand in hand of late in the past they used to move in the opposition direction. so do you put this down to the qe-3 factor? >> in part, although it's been in place even when qe-3, or when quantitative easing hasn't been a major driver, a major force in the market. you have to realize that when you take a look at correlations over long periods of time, the dollar is kind of the currency of despair. you buy it when the economy is weak and you pretty much sell everything else. i think qe-3 is kind of making it easy for the euro and the europeans to look good right now because much of the world is terrified about the balance sheet expansion that they expect to occur and the flood of liquidity. so i think that there's a bias in the market. you know, to sell dollars broadly. in that circumstance, you look at reserve managers, you look at investors,
CNBC
Oct 3, 2012 3:00pm EDT
-shot young lawyer making $200,000 in new york city, you've got probably a high mortgage payment relative to your salary. you're paying high state and local taxes. if you made charitable deductions, this is a proposal that might hurt you more than it helps you. so who would benefit under this scenario that romney floated out there yesterday? well, the same hot-shot young legal associate, if he's living in the houston suburbs, renting a house paying low local taxes and not giving all that much to charity, that's the hot shot young lawyer who might really nefiis scenario, bill. with all of these ideas that are being floated around out there, the question is who wins and who loses? the losers are those people who are going to end up paying more because they lose some of those deduction. maria, back to you. >> all right, eamon. thanks so much. our next guest says don't stop there. eliminate all the deductions. >> david callahan likes the general idea of the romney plan but is skeptical that it can become reality, mainly because, what, you feel it's going to complicate things even further in a
CNBC
Oct 4, 2012 4:00pm EDT
today from blackrock's trading floor in new york city. we have a lot more ahead on this special action-packed edition of the "closing bell." >>> coming up, blackrock's chairman and ceo weighs in on everything from the markets to the upcoming election to why his firm was built for these economic times. it's an interview you can't afford to miss. >>> plus, numbers game. will a bad jobs report tomorrow discredit everything the fed has done to stimulate the economy? and branching out. amazon getting into commercial lending. is this another sign that their retail profit margins are feeling squeezed? that's coming up on the "closing bell." ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. we create easy to use, powerful trading tools for all. look at these streaming charts! they're totally custom
CNBC
Oct 5, 2012 12:00pm EDT
of these when it comes to 2013? can we have that graphic again? ah-ha. 1615 says citi group. 1600 says bank of america. 1575 says goldman sachs. >> i can't -- i'm not a forecaster. but what i'll trade are the technicals and the fundamentals and right now the technicals tell me that the next stop is at 1500, 1525 level that we've seen. i don't know what it was. within the last few years. that's where we're head. from there a conversation. you don't want to get ahead of yourself. trade the markets and we'll go from there. >> you look good in a weather outfit. >> if we did it together with your red glasses. >> let's give you two stocks of the week. hewlett-packard and facebook. good to see you. how are you >> i'm great. how are you doing? >> good. you're thinking, you actually like hewlett-packard at this point. everybody else is super negative and now you're starting to get interested. tell me why. >> first of all, i think as is the wall street way whenever there's a morsel of information that's reacted to either on the positive or negative side. 3.05 a share, baseline, things don't get bett
CNBC
Oct 1, 2012 1:00pm EDT
, this is a city where the ideas of milton friedman continue to get a lot of attention. one of our questions via twitter asks how you think milton friedman might have viewed the federal reserve's evolving role over the last five years. >> i think milton friedman -- i'm a very big fan of milton friedman. i knew friedman for a very long time. i was a colleague of his for a while at stanford. i've had many opportunities to talk to him. i spoke at his 90th birthday party. i spoke at some other events in his honor. he's a terrific economist. very insightful. i think he would have supported what we are doing. one of the things that made friedman's reputation was his work with anna schwartz about the great depression. and they pointed to two basic problems and they're very analogous. what i was just talking about in the context to japan. they pointed to the inflation, the overly tight monetary policy at the period, and they pointed to the collapse of the banking system and said it was the failure of the federal reserve to address both of those problems that made the u.s. depression as bad as it was. we
CNBC
Oct 1, 2012 2:00pm EDT
those in the inner cities? >> well, a lot of data out there and lots of people arguing both sides of this. again i think it is going to impact most hospitals. clearly the bigger the hospital the more -- hospitals operate on very thin margins as it is. so every percentage reduction in the medicare reimbursement hurts. is just the beginning. penalties actually go up to 3% in a couple years so we're talking about a lot. inner city hospitals, there's a lot written about them. poor people have a harder time complying with getting back -- transportation issues, coming back to the doctors to do all the things you need do to stay out of the hospital. on the other hand, public hospitals in particular are well equipped with their medical staffs that tend to be employed by the hospitals, they're well equipped to provide that kind of care. so the jury's out about who is going to suffer the most. certainly the jury is saying we don't care, everybody plays by the sams rules on this one. >> what does it mean for us, the patient? >> i think right now nothing. this is just hospitals are -- let me
CNBC
Oct 3, 2012 2:00pm EDT
it fits around eight people which is highly efficient for a lot of companies doing many cities in one day. this aircraft was started with a clean sheet of paper. instead of flight logs, can you now put all your flight information on the ipad. instead of a lot of those busy knobs, they put it all on a giant flat screen. bombardier and flex jet are hoping that this plane can help them out of one of the worst crises in this industry's history. this plane so far, they've sold more than 40 shares. that's around 1/16 fractional ownership of this plane. the company is also hoping that a new range of products including this card, which i'm going to show you in a second. this is the flex jet atm card. you can basically -- it is $100,000. you load it up with hours. it is very flexible. it is their lowest cost offering. a lot of companies now instead of -- it's not about who has the biggest plane, the most expensive gulfstream. it is about who can fly the smartest and fly with the most value and efficiency. so a huge change in this industry. now the question is when will the private jet business fin
CNBC
Oct 1, 2012 6:00am EDT
begins to move up into places c. and new york city. on wednesday, more rain to contend with moving up across a good chunk of new england. so next couple of days not looking so great here in the northeastern part of the nation. detroit in the cool, greatish sort of day with the middle 60s. while that's going on, we have a bit of a chill down on the way. for monday, temperatures across the northern plains in the northern rockies going to be mild. 10 to 15 degrees above average. but cold front comes through, the bottom drops out. 20 degrees below average in billings by wednesday. back on to you. >>> we'll take a quick break, talk presidential politics and what paul ryan says about the romney/ryan tax plan. chools in e world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. mike rowe here at a ford tell me fiona, who's having a
CNBC
Oct 2, 2012 6:00am EDT
current cities are suddenly represented in oil and gold, suddenly gold and oil are so high that any gains that you get in your market averages are -- >> and yet crude oil back at -- >> 92, yeah. expressed in either euros or dollar, it's expensive. the ten year note which we know is just able to trade wherever it wants and not being influenced at all by the fed, just at a 1.63%. look at the dollar which has been around 1.28 versus the euro. 1.29 today. and then gold was at a session high, i think it was at a euro all-time high yesterday. down a little bit today. >> right now time for the global markets report. ross westgate is standing by. while you -- >> two days now? >> guess who we get onset with us. >> mr. poulter. that's fantastic. and is that the first interview he's done outside of the event? >> he may have just talked after the event, i guess, and i know he had a few guinnesss after the event. i saw a few pictures yesterday. but he had those same eyes. eyes scare me a little bit. i'm not going to be that nice. because he put a dagger in my heart. i'm going to talk about how well he
CNBC
Oct 4, 2012 5:00pm EDT
. >> live from the market in new york city's times square. stocks getting a boost today and is this a romney rally? what is the best way to play it. >> i think you have to look at the sector that is most undervalued. i think a romney victory brings back the return of normalized earnings much faster. you will see a regulatory environment that is more in line with what i think the 2012 market should be. we have over regulated in that sense and the value of the us dollar under romney will get stronger. >> karen? >> i agree with what he is saying. there is the perception of economic growth and if that is the case and less regulation, i think you are see the industrials get better. >> i think if we can get back to 2007 and 8: 20 2007 and 2008 levels, it will be better. >> how often do you get a candidate that calls out a sector like that? >> it is not just the president and regulations that have hurt coal stocks? >> that has hurt it as much as the president holding things back. but obviously romney calling this out is why stocks were up 6 to 7%. the question i have is up to what day do you decide
CNBC
Oct 5, 2012 6:00am EDT
some remember max company city? >> i'm glad you're entertaining yourself. >> all preparation that matters, right? >> it is. jarrett, what do you think, are people underestimating the vice president's abilities with paul ryan? >> if they aren't, they shouldn't. he's quick on his feet. he's good at linking things to a narrative. i can't imagine he would want to go into the weeds with paul ryan and talk about budget baselines. he'll talk about the kind of narrative, the middle class, the folks that he believes -- >> the ones buried in the last four years? >> i think joe biden really does connect with average voters in a way most politicians don't. and i think it will be tough. >> tony, you and the steelers, man. anything happens to them, and i got to hear from you. >> i have not had a chance on air to congratulate you with the reds. amazing season. >> thank you. they're 5:1 odds. i think the nationalses are slightly above that. but i checked the game is saturday 8:38. i'm so excited because last time i got to the playoffs, remember what happened? they got no hit. i'm like watchi
CNBC
Oct 5, 2012 9:00am EDT
? >> thank you, david. i'm a little hungry this morning. it's dunkin brands. citi says they see them tracking above consensus. consensus is 2%. citi thinks they're looking up 3%. as a result, shares are higher, carl. back to you. >> thanks so much. let's take a quick check of the markets. the dow sitting near its highest levels in almost five years since december 2007 on the back of that strong jobs number, perhaps. s&p not quite at an intraday high for the year and 1469 and got to get to 1474.51 to set a new interview intra day high for 2012. when we come back, more pain at the pump and up next we'll find out yet perfect storm will be brewing in california. a state that refines its own gasoline and why stations are closing their doors. that's next. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this
CNBC
Oct 6, 2012 6:00am EDT
city of los angeles. the dow closing now for the third straight day and reports five-year highs, but the make-or-break moment is here. earning season is upon us, so the question is do you stay long into next week? let's get into money right now and find out. before we do that, though, we've got to talk about apple. it looks like there are signs of a breakdown here with apple breaking below the 50-day moving average, dan, moving lower by 2% on a day where the markets are basically flat. and on top of it, we have the foxconn strike. >> yes. so that headline came out that one of the factories in china where they make the iphone 5, the stock took a leg down. i mean maybe half a percent, three quarters of a percent. it was weak all day. >> right. >> but here's the thing. i think it feels like the momentum has kind of come out of the thing right here. we had this buildup into the iphone 5 release, and then obviously the units were a little disappointing. so here you have the thing on a technical basis, 650 is this huge, huge level here. it was prior resistance. and so, you know, remem
CNBC
Oct 2, 2012 6:00pm EDT
. >> booyah this is john from the windy city. >> congratulations on last night's victory. >> ticker symbol nok? >> it is not okay to own that one n-o-k. we are going to skip nokia. how about mark in maryland? >> jim, a big thank you booyah from my wife. my question is regard iing gourdman's is this an excellent buying opportunity? >> again, i know this sounds like i'm punting a lot. i don't know how the last three months, but i have to do my homework on this one. i'm not ready and up to speed. tom in california. >> two israeli communication stocks. partner and sell. ptnr and cel. >> i have been saying cel, please do not touch it. it is way too risky for me. billy in pennsylvania. >> yes, jim, booyah from the country who hosts your eagles on sunday. i bear no malice and how can i make money with you? >> okay. my question, pay big dividends 10%. wind screen. >> we had them on. i was not convinced that this company was going to do very well. i'm going to say no. i'm going to rm eeen in califor. >> first time caller. rly? >> american capitol agency is the one i want to own. >> and that is the conc
CNBC
Oct 1, 2012 7:00pm EDT
goodfriend, robert costa and having them rent apartments in new york city. that's it for this evening's show. i'm kudlow, thanks for watching. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... i'm bara ck o bama and i approve romney: "it's time to stand up to the cheaters" vo: tough on china? not mitt romney. when a flood of chinese tires threatened a thousand american jobs... it was president obama who stood up to china and protected american workers. mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side?
CNBC
Oct 3, 2012 6:00pm EDT
in the city and we opened another door the brand still got stronger. there's a tipping point. we have to try to avoid that tipping point. most of our business is as a wholesaler. but we present our brands to consumers in a way no retail partner can. if you go into a north face store or van store, you see all the brands together. we think it makes the brand stronger. it's good for us and them. >> one of the things that people get -- don't understand is that the ag complex doesn't all trade up at the same time. some of the food grains did. but cotton has really gotten cheap. you had very high cotton last year. >> yes, we did. >> is this going through gross margins that cotton's come down so much? >> we had real gross margin challenges last year, particularly in our north american denim business. we lost 400 basis points in gross margins last year. >> gigantic. >> it is gigantic. but we didn't cover all of our cotton costs while we were doing that. this year, it's coming back to us. i showed up last quarter a little bit. it's going to show up for the back half of the year with improved growth m
CNBC
Oct 1, 2012 5:00pm EDT
. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. wall street expects stocks to fall this quarter. the average target for the s&p 500, 1,412. do you agree that the street -- with the street that stocks are headed lower in the fourth quarter? joe? >> well, i think the strategists' targets are reflective of where the performance has been year-to-date. so the hedge fund community is clearly underperforming the market. however, i'm going to react to where the market is. right now the market sits above as long as it's above there, i think the market goes higher. if it goes below 1,422, then the overweight type of trade we've had since the end of july, you need to neutralize that. additionally, the one thing i will not do even though the market continues to move higher is chase what has underperformed this year. i think that's a recipe for disaster, coal, steel, want no part of it. >> in terms of the consensus target, we polled the street and averaged up all the targets and that's how we got the 1,412 number. this speaks to the surprise we've had when it come
CNBC
Oct 2, 2012 12:00pm EDT
einhorn making news today in new york city. kate kelly is following that. >> he went through four big ideas, some of which was the short bed on green mountain coffee roasters. he said they're playing out like he expected there and some developments happen faster than he expected. he essentially thinks there's a high likelihood of improper accounting here, but at a minimum waistfsteful spending. his most surprising call, and i talked to him for a little bit after the presentation and he agreed this may have been the most counterintuitive was his long bet on cigna. he said hmos are undervalued right now. people are afraid of them because of obama care, among other things, so they don't want to talk about them. the whole group is trading at a discount. if you actually go through it, cigna is just -- i'm laughing because he just walked by me on the street actually. anyway, cigna is actually better positioned than other stocks. the he cexposure to obama care small so it's well-positioned. i asked him about lulu lemon. he said, listen, focus on what i said at the beginning of the remarks, w
CNBC
Oct 3, 2012 12:00pm EDT
could do for you here, i think you'll see 75 before you see 50. i agree with the comments in the citi report. you are seeing a turn in customer satisfaction. >> big day for ipos, as well. lifelock making their debut. which of these three do you like? >> the one that caught my eye is javolin mortgage. the thing you have to worry about is as they roll those new mortgages organization t s on, lower. >> we're coming off a year with the worst drought since 18956. think farmers and the have i wi industry looking for the biotech angle.56. think farmers and the have i industry looking for the biotech angle.56. think farmers and the have i industry looking for the biotech angle.956. think farmers and the have i industry looking for the biotech angle. >> david rosenberg is one of wall street's longest running bears, but is something about to turn him into a bull? david joins us on the fast line. welcome to halftime. >> nice to be back on. >> are you about to change your stripes? >> well, i'm not so sure that i've changed my stripes. i was never you're quite right a market bull in terms of the m
CNBC
Oct 3, 2012 7:00pm EDT
11th city and we're on a tour and i'm going to be doing a debate listening party at arizona state university tonight. this will be the 11th university i've been to, i've had 11 lunches with business owners. let me tell you what the people understand that i believe governor romney is going to drive home. spending is destroying this nation and i think if he stays on that message, he's going to do just fine. >> but, herman, doesn't he shav to say something about it? i have jim boykin here, smart guy, he's already challenging holtz-eakin on that. how much? where? defense? nondefense? safety net? where's it going to come from? >> i can't tell you where it's going to come from but i do believe it's going to be specific. i do know that the american people, regardless of the specifics on spending, i agree with the earlier comment that he's got to be specific on how he's going to create jobs. but relative to spending, the people sitting at their kitchen table, talking kitchen table economics know we cannot continue the spending, the run away spending like we've done in the last four years,
CNBC
Oct 4, 2012 9:00am EDT
it means the government travellers will have to stay farther out of the city center because they won't find rooms available at the rates they're authorized to play, but that will vary market by market. i think ultimately the business and the vacationers will drive the rates in the next year. we talk about 5% to 7% next year, which is a pretty bullish number. >> as far as the headlines are concerned, you beat by four cents. is it fair to say that actually that's not due to demand and pricing. it's more to do with the fact that you've cut costs by $23 million more than you expected is and you brought more than expected which flants your eps figure. >> yes. i think the earnings report we reported today compared to what people were expecting was mortgagely driven by unusual or one-time items, admin costs, those sorts of things. our same-store sales numbers were less than expected an our fees were more or less than what was expected. so that's a fair comment. we posted really good growth, so we feel good about that. >> in the meantime you're also maintained your midpoint. you are tightening the
CNBC
Oct 4, 2012 12:00pm EDT
on, citi the other day said, you know, the analyst was positive on the stock because customer satisfaction improved. customer sats faction of existing customers doesn't tell me that they have a great strategy and way to grow their new subscribers. >> and you know, judge, it only could have improved given where it was. it had to be at a trough to say the least. so it only could improve. that's the reason why i think the stock has got on tten to th point. i understand what tillson is saying and mahaney. >> do you expect this move or is it about to evaporate? >> no. i'm a hater. all the people being very bullish this week, they're buried in this thing, number one. number two, no one should be shocked that it makes big moves. this is a 30 'em short position, so any time you've got a $120 target on a $60 stock with that many shares short you have to expect a huge rally. >> 20% in four days. >> we saw this movie though. in january it doubled. it went from 70 to 130. we saw just a few months ago we had the same thing play out. the stock went from 60 to 90. this is what happens in the
CNBC
Oct 4, 2012 3:00pm EDT
floor in new york city. we've laid out the numbers. the firm manages more money than the federal reserve, more than $3.5 trillion. the question is, how are they putting their money to work in today's environment? and how are clients allocating capital today? joining me now in a cnbc exclusive are two people at the forefront of those decisions. quinton price and robert kapito, the president of black rock. gentlemen, good to have you on the program. thank you so much for joining us. let me start with quinton, since i don't think you've been with us before. nice to have you on the program. you are the global head of the alpha strategies group. really, a global opportunity for allocating capital. to what do you attribute the rally today? was it the ecb, do you think? was it the election last night? what's going on? the debate, rather. >> europe has been driving the market for months. ever since draghi made his comments, going back two months, we've seen confidence flowing back into equities. we've removed the downside risk for markets. i think that's continued. i think people have got confid
CNBC
Oct 4, 2012 7:00pm EDT
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CNBC
Oct 3, 2012 1:00pm EDT
costs down using the cloud as you are doing because you have facilities in redwood city. have you facilities in bangalore and various other places so that must be a cost savings as well. >> that's right. we put our studios where the artistic talent is. one of the unique aspects that technology has allowed dreamworks to achieve is to have any one of those artists working on any one of our movies at any given time. that sort of flexibility in both people and digital resources is pretty key to our cost equation and pretty key to the quality of our movies. >> i was talking with an analyst before the show about you and what you're going to bring to dreamworks and are bringing to dreamworks. he made an interesting comment. he said as an analyst that covers the company, i'm on the fence as to whether i should consider it now a technology company or an entertainment company. are you becoming a tech company? >> i think since its inception, dreamworks has always invested very heavily in technology. after all, we don't use cameras. we manufacture the images completely from scratch. so half a
CNBC
Oct 4, 2012 1:00pm EDT
in fraud. this operation has touched all nine of the task forces so-called strike force cities. this raid this morning in brooklyn at a medical clinic in the brighton beach neighborhood. other arrests in los angeles, detroit, dallas, chicago, and more. of course we have been reporting for months on the huge problem of medicare and medicaid fraud. estimated at some $80 billion a year on the low end. this crackdown, which came up in last night's presidential debate. authorities tell us they found every kind of scheme imaginable in this operation. false billing for medical equipment, community mental health, home health care, the list goes on. among those reportedly arrested -- a hospital ceo in houston, as well as doctors, nurses and other providers. we will be monitoring this news conference and the indictments as they come out. more as we get it here and on cnbc.com. >> scott, thank you. we'll check back with you as conditions warrant. >>> now to the markets. they're moving higher today, up 75 points on the dow, five on the nasdaq. s&p is up better than 8 1/2. we want to drill down on las
CNBC
Oct 1, 2012 4:00am EDT
're long on the markets for european stocks. as represented as well in the foot city global 300. up for the highs for the session up 15 points. ftse up around 3% for the quarter. today it is up if you take a look at it up a percent at the moment. ibex currently up 1.3%. bond yields coming down today. so in terms of spain and italy, which is the ones we're focused on, below 6% for spanish 1e7b year, yields lower in italy, as well.year, yields lower in italy, as well. occurrence ci euro dollar has bounced up during the session. dollar-yen 78. aussie dollar was dragged lower by those china pmis. again, just bounced off those lows. sterling slightly weaker on the back of the uk manufacturing pmi numbers that we also have out this morning. so that's where we are in the european session. let's recap the nation trading day. all the details out of sync pore. >> asian markets under pressure today, but volume was light because of the respective holidays. there are ongoing concerns in spain, aussie dollar rebounded a little, but under pressure ahead of tomorrow's rba reading. benchmark ended j
CNBC
Oct 4, 2012 4:00am EDT
around this is head of developed markets rate strategy at citi. thanks for coming along. so what are you expecting from the ecb, when will they move next? >> i think today will be a monday event. the market is not pricing any in move. if there's going to be a change in policy, it will happen probably towards the end of the year and then most likely forecast also another change in the first quarter much next year. so it's all about expectations for the future. >> how do you trade around those expectations? >> the way to trade around it is to carry. the ecb has carry rich. you have on libor a quite steep structure. and so what we expect our baseline scenario to profit from long positions there. >> let's put this into the context of what's going on. we have the central banks and developed markets, the bank of englands as well today, most people agree that we won't get anything from the bank of england until november, december. any thoughts there? >> i think with regards to the fmoc minutes, what we'll get is most likely some sort of sense for unhappiness with regards to the measures that ha
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